Home / Knowledge / News / Textiles / Itema turnover soars 15% to €80.5 million in Q1FY18
Itema turnover soars 15% to €80.5 million in Q1FY18
Jun '18
Courtesy: ITEMA
Courtesy: ITEMA
The turnover of Itema Group, the leading global provider of advanced weaving solutions, including best-in-class weaving machines, spare parts and integrated services, amounted to €80.5 million in the first quarter of fiscal 2018, rising by 15 per cent compared to same period last year. The turnover shows the group’s strong international presence.

The company’s core business, manufacturing and marketing of best-in-class weaving machines, registered unprecedented sales results over the same period of 2017. For the reported period, there was an exceptional leap for Itema weaving machines which increasingly represent the preferred choice and continue to gather the appreciation of weavers in the main textile markets such as China, Turkey and India.

"The excellent results achieved in this first part of 2018 are the result of two crucial strategic decisions taken by the group: our positioning as technological leader in the sector and our dedication to international growth. Since 2012, Itema succeeded in more than doubling the sales of its weaving machines collecting constantly increasing profits thanks to our tireless and steady commitment to continuous innovation which led us to develop breakthrough and smart weaving solutions, enabling our group to become the industry technological benchmark. Research and innovation (in which the group invests 3 per cent of its turnover every year) will continue to be our driver," Carlo Rogora, Itema Group CEO, said.

The group also confirms its firm determination in strengthening its leadership and growing not only organically but also through targeted acquisitions, thus creating significant synergies along the respective supply chains to grow not only in the textile machinery sector, but also to expand into new, highly innovative industries.

"With this precise objective in mind Itema also recently considered a listing on the stock market, with an IPO which passed all the tests for obtaining the admission to the Italian Stock Exchange but did not arrive at completion solely due to the - sudden - changes in the equity market conditions that held back investor momentum. Our decision is an objective assessment of what we see as best for Itema in this specific moment, particularly taking into account that our positive net financial position and our excellent market results enable us to continue autonomously along our growth path," Rogora added.

"With our shareholders’ full-fledged support we will therefore proceed in building an even more solid and competitive group at a global level and in concentrating our extensive R&D efforts on offering better, smarter, faster solutions, increased performances, reduced consumption and enhanced user-friendliness," Rogora concluded. (RR)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Pxhere

Textiles | On 24th Jan 2019

Cabinet okays National Bench of GST Appellate Tribunal

The Union Cabinet, chaired by Prime Minister Narendra Modi, has...

Piyush Goyal likely to present Interim Budget 2019-20

Textiles | On 24th Jan 2019

Piyush Goyal likely to present Interim Budget 2019-20

Minister of railways Piyush Goyal is likely to present Interim Budget ...

Courtesy: Pxhere

Textiles | On 24th Jan 2019

China's textile & apparel exports up 3.5% in 2018

Textile and apparel exports from China increased by 3.5 per cent...

Interviews View All

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Rahul Bhadani, Looksgud

Rahul Bhadani

Navigating through catalogues is a bit hasslesome

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Siddhachakra Weaving (Badiya Fashion),

Siddhachakra Weaving (Badiya Fashion)

Ahmedabad-based Siddhachakra Weaving Pvt Ltd was established in 2011 under ...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Justin Gutierrez, INDA

Justin Gutierrez

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category

Related Categories:

Advanced Search